WB Cabinet clears deck for incentive to Mitsubishi

Kolkata: The West Bengal government has agreed to extend incentive to Mitsubishi Chemical Corporation, which has its plant in the state`s port city Haldia.
The Fortune 500 giant and Japan`s largest diversified chemical company had earlier made an appeal to the state government for incentive to expand its plant.

"The state Cabinet has cleared this in its meeting today," state`s Finance and Industry Minister Amit Mitra said here today briefing the cabinet meeting.

With an investment of about Rs 1,600 crore in its second phase at Haldia, the company emerged as one of the major Foreign Direct Investments (FDI) in India.

Simultaneously, Mitra said the state government has also assigned the Great Eastern Energy Corporation Ltd, a leading and fully integrated CBM company, to extract CBM at its plant at Raniganj in Burdwan district.
This project at Raniganj would draw an investment of about Rs 1,000 crore and meet the growing need of coal based methane gas by various industries, Mitra said.

Mitra also said the state cabinet today cleared the projects of three industries drawing a total investment of about Rs 100 crore in the state.

With the approval of the three industries, Creative Polypack, Dream Bakery Pvt Ltd and Poddar Commodity Pvt Ltd along with allocation of land at the Sankrail Food Park in Howrah district, a large number of employment opportunity would be created, he said.

The state government had recently cleared the projects of seven other industries with a total investment of Rs 600 crore, the minister added.